Case Study: David and Michelle’s Responsible Path to Their Dream Retirement
Case Studies

Case Study: David and Michelle’s Responsible Path to Their Dream Retirement

By September 16, 2021January 21st, 2022No Comments
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With advice, David and Michelle will have $444,200 more to enjoy their retirement lifestyle.

 

David 66, and Michelle, 56 are planning to retire in the next few years and wanted to check they were on track financially to achieve this.

“Responsible investments aligned with our values are important to us, and Novo Wealth ensured this was the primary focus of our financial planning.”

Superannuation Balances:

David: $493,517
Michelle: $133,367

Non-Super Assets:

Financial investments & bank account: $338,000

Income:

David: $114,046 p.a.
Michelle: $100,000 p.a.

Home ownership:

Yes, no debt

David and Michelle’s Goals:

  1. Would both like to retire at the end of 2021 and wanted to check they are on track financially to achieve this goal.
  2. In retirement they would like to live on an annual income of $62,000.
  3. Review existing super funds to align with Responsible Investment values.
  4. Invest David’s inheritance according to long term investment and Responsible Investment profiles and in the most tax effective way.
  5. Establish how best to use surplus cash flow in most tax-effective way.

 

Advice Received:

1. Superannuation contribution strategies
2. Superannuation investment strategies
3. Retirement projection and planning

 

The Value of Novo Wealth’s Advice:

  • Retiring in January 2022 on $62,000 p.a. is achievable.
  • They will receive $15,000 p.a. additional income until 2024.
  • $444,200 more funds accumulated in their superannuation combined.
TAX SAVINGS:
  • David will pay an estimated $7,248 less tax in the current financial year.
  • Michelle will pay an estimated $8,258 less tax in the current financial year.
SUPERANNUATION INCREASE:
  • David’s superannuation balance will increase by $11,900 in the first year.
  • Michelle’s superannuation balance will increase by $32,300 in the first year.

 

The Outcome?

 

David and Michelle can experience their ideal retirement while knowing their investments align with their values.

 

Do you want to experience the same success as David and Michelle? Are you ready to take the responsible path to your dream retirement?

Contact Novo Wealth today and let’s get started!

 

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IMPORTANT: This information is general in nature only it does not take into account your individual circumstances. We recommend that you seek professional advice before making any investment decision.